Question

In java how do you write an inflation calculator. Input should be amount, rate of inflation and number of years. Output should be the future value of the amount.

Example Output:

Enter the current cost of the item: 1000

Enter the expected inflation rate per year

(Enter as a percentage and do not include the percent sign): 6

Enter the whole number of years in the future to project cost: 10

At 6.00% inflation per year, the cost in 10 year(s) will be $1,790.85.

Process completed

Answer 1

import java.util.Scanner;

public class Inflation {

    public static void main(String[] args) {
        Scanner in = new Scanner(System.in);
        System.out.print("Enter the current cost of the item: ");
        double value = in.nextDouble();
        System.out.println("Enter the expected inflation rate per year");
        System.out.print("(Enter as a percentage and do not include the percent sign): ");
        double rate = in.nextDouble();
        System.out.print("Enter the whole number of years in the future to project cost: ");
        int numYears = in.nextInt();
        double finalValue = Math.pow(1 + rate / 100, numYears) * value;
        System.out.printf("At %.2f%% inflation per year, the cost in %d year(s) will be $%,.2f.\n", rate, numYears, finalValue);
        System.out.println("Process completed");
    }
}